Credit Card Betting Sites

So you want to open an account with an online sportsbook, but you're not sure what the best method of funding that account might be.

There are many ways to fund and cash out accounts with online betting sites, but some are better than others. The process can be quick and relatively painless, but in some places, like the United States, some methods aren't legal.

In this article we'll outline the pros and cons of using credit cards to fund your accounts.

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Why Choose Credit Cards for your Betting Site Deposits

At the moment, most non-American credit card clients can use various credit cards – like American Express, MasterCard, and Visa - to facilitate transactions with online betting outlets. Most such outlets gladly accept funds from and pay out to credit card accounts. There will be regulations, limits, and fees involved, so potential bettors will want to do some homework, but generally credit cards can be very viable options when it comes to these kinds of transactions.

Americans, though, will have problems using their credit cards for such transactions, because US federal law prohibits it. So American credit card customers are forced to use other means. One such option is the use of financial intermediaries, such as MyPaylinQ, Skrill, or Neteller. A credit card can be used to fund accounts at intermediary outlets, which can then be used to fund online betting accounts.

While using an intermediary might sound like an unnecessary step, it can work to bettors' advantages by providing an extra level of security between the online betting site and the cardholder’s personal banking information.

As with using credit cards directly, there will be fees involved when using intermediaries, but many credit card betting sites also offer bonuses that help offset such fees.

Credit Card Betting Sites – What to Look for Before you Deposit

Fortunately for credit card users just the fact their preferred betting sites accept their particular cards, and vice versa, is almost an endorsement from the card companies themselves. Credit card companies don't want to get involved with fly-by-night operations, and they put protections in place to keep their customers from doing so as well. If a credit card company allows the use of its logo on an online betting site, it's a good bet they've got confidence that site is legit.

Most credit card betting sites are fully licensed to operate in the online gaming business. Such sites are also likely to be owned by well-known parent companies, and are monitored by online sportsbook watchdogs. Nonetheless, the first thing a potential bettor might want to check is whether the online betting shop he's considering is licensed, and who owns it. Because with licensing and reputable ownership comes oversight, which works to the benefit of the bettor.

Once all that has been researched potential bettors will want to research the betting sites themselves. Bettors will want to compare and contrast factors such as the financial incentives, like bonuses, loyalty programs, promotions, and free bets, and the sports betting offerings. Does the book have a reputation for quick and easy deposits and withdrawals? Or does it make customers jump through a series of hoops? Do they post fair and accurate lines, prices, and odds, or are they ripping customers off with high prices and deflated odds? How have they handled conflicts? Have they had official complaints lodged against them? Those are all good questions, and potential bettors should have the answers before they use their credit cards to fund an account.

Since most credit card betting sites rank among the largest and best-known in the sports gaming world, with a large and diverse clientele, their sports betting offerings will cater to their customers with betting action on a wide variety of the most popular, and even some of less popular, sports and events.

A potential bettor will also want to familiarize himself with the type of bets offered, the betting limits, and of course the odds. Those types of things can vary widely from book to book, but generally speaking the larger shops are able to offer a wider variety of bets, better odds, and bigger limits, because of their overall handle.

But does a book offer futures betting? In-game wagering? Does it have a casino? Does it offer horse betting? And what are the betting and payout limits at the casino and in the horse book? Do they pay track odds on exotic wagers? A few books do, but most don't, and horse players should know before diving in with their picks on the exactas and trifectas.

And how about sign-up bonuses? Free bets? Loyalty rewards? Most good books offer such incentives, but those incentives can vary widely. Also, potential bettors will want to know how often they can withdraw winnings. Most books put limits on withdrawals, such as once a week, or bi-weekly. This type of information can be important when it comes to choosing an online credit card betting site.

How do Other Betting Site Deposit Methods Compare to Credit Cards?

Credit cards can be a very viable option to fund and cash accounts with betting sites, but that doesn't mean they're always the best option. Much depends upon the individual bettor. There are other online payment services that might be more convenient, with lower fees and better perks. Then again, not all of the best books accept some of the alternative financing options.

Bettors can also use debit cards, which are accepted almost everywhere, and usually don't include fees. And bank wires are very reliable, and can be a good way to make larger deposits and withdrawals because of fewer and even non-existent fees. However, it can take as much as several days for such transactions to clear.

In the end the best way to find out about the best methods of financing online betting accounts is to do the homework and shop around. A good place to start can be online sportsbook watchdogs, who monitor online books and how they interact with their customers.

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